Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1887-03-31
-,yy ,y7yrERs, DoWNFALL.
PhiiadeiphiA,s Financial sisusson
-Ymnes Hunter Quiss tine Quaker

Y the alleged forgery BY James hun'er
4 uniting Il very mildly, and there IL
st,ono sympathy with John Hunter, VINO
a probably ruined through bis .deyotioh
for the last 10 years TO public hnei,s.
The Keystons National Bank ana tne
keystone Trust Company, recently organ.
ised. and of which John Hunter was 70
have been president, are probably NOT
atfaoted. James Hunter, who has con-
Quoted the business OF the firm, ana WY
ia held responsible for the alleged iol
geries, Is to-day reported to have sslieu
for Brazil. Bank presidents VINO nave
done business with him for Az years ssy
that they would have trusted MN iii'
plicitly. 4.
The amount of liabilities Of the irm 10
mot vet known. John Hunter hopes TO DO |
able to pay all obligations, but at tue
end will certainly be a poor man. roI
the last six years he has worked day ana
night In the receiver OF taxes once Tor
$500 year, refusing all commissioning
and fees. and has had no time 10 attend
TO his private business, though he re-
manned a member of the tirm. When ne
entered political life 10 years ago he was
A prosperous manufacturer worth from
ALDO. 600 to $500, 900. Keen, Bodine y
Co., discounted about $4,000 of the
notes, and allege that $4,000 worth oil
them were forged. The Fourth National
Bank has brought suit for $4,000 OF
notes. and the Third National for ", 400.
| These latter notes are all of recent date
| In fact, nearly $3.50, 600 Of this paper has
/ been made within the last four months,
and some Of II within q week. john
| Hunter to-day declined to say anything
about the matter save that the blow had
come upon him very suddenly aud unex.
pectedly. Attachments were filed against
| the firm this afternoon by the Mechanics'
National Bank for $25, 1000, and BY the
West Philadelphia National Bank for
ala. 800. The affidavits Of the bank OH
cials allege that the money was fraudu-
lently Obtained by means of forged sigma.
lures of James Long on the promissory
notes given as security. Mr.. Long il
president of the Union Trust Company
and the Endorsements on the various doc
uments are declared by him to be forg
cries. An assignment for the benefit o
James and John Hunter to John Field, O.
! assignee, which was made yesterday, wa
recorded today. Rumors were thick to
day as 10 the losses that would be sus
tanned.
The aggregate Of the forged notes, 70
. which attachments have been issued OF
late hour tonight, amounted to $3.50, 0Ot
: James Hunter has not returned, and b
family decline to say whether they kno
. where he ia. It is now related that whe
2 John Hunter was elected to city council
ten years ago, he discovered that h
:, brother James had issued in the firm
. name $500 of notes to carry on
q speculation in Spring Lake, which job
= Hunter had refused to sanction. Neve
70 theless John Hunter assumed the oblig
ton, mortgaging his property to meet Il
= notes. He had been struggling with II
y load ever since. A few months ago
. told friend that he owed $500, 900, b
that his property, if not forced to 50
would pay that amount and leave hi
q 100000 clear. This margin, howeyt
- is more than wiped out by the new opel
81 tions of James Hunter, OF which 10
y. had no definite knowledge until vest,
n day, when he Immediately made an
" Segment. The Mechanics Bank hol
81 the largest block Of the forged pap
1 GIOtUDb, uuh u AtuLeu Dhtlhb hlb luNGl cot
=. in smaller amounts. 1t is not thong
81 however, that any of them will be g
~ barrassed.
as James and John Hunter arc the p
:, prietors Of the Conestoga Print Wor
y and have large mills in West Philadelp
~ and Norristown. The works we're est
u. lished in 1929 by their father, Thor
Hunter, who came to this country FIR
Belfast, Ireland, with his family alb
"a two years previous. The mills VI
4. about 10 900 pieces of standard mad
prints per week. The elder Hunter
= in 1913, when the control of the busir
" devolyed upon the present proprietort
lis PHILADELPHIA, March "a "A COMPILE
re list of the money owed to James Long
en- the bankrupt firm of James and j,
eu Hunter was made to-day, and is as
re- lows Keene, Bowdine Il Co., S102, {
re Mechanics National Bank, $685.
he Fourth Street National Bank, So!
Third National Bank, $64, 900; West P
es- adelphia National Bank, $l4, 800; Ii
pendence Ntti1vai Tank, Sc, 000 MAX
% 4 total o. S15I 7G@ n the comprny
N Ing paper bears the ae.as Of James Lo
ne president Of the Union Trust CompR
iio John Field, who has been named
zen assignee, was busy to-day attempting
res straighten out the accounts of the fl
on John Hunter made an assignment to
me which covers all his property, real
vas personal, and includes deeds and m
lnu cages. The assets of the firm are
AGA mated to Ia COMO aaoo non Gond
my the hands of Dale, Reed d Cooley of
"a York, belonging to the Hunters,
,eu been garnisheed.
ms II is statsd that the trouble was sta
s by land speculation of James Hunt,
l.ei Springlake, summer resort, and
aon bad trade and bad management finii
what foolish speculation had be-
The rumor that James Hunter toe
steamer for Brazil yesterday ga
!, n ground this morning, as nothing has
heard from him since Tuesday, whei
left the city ostensibly for New
r. To-day the attention Of John Field
~ legally called to the fact that 70
Y paper bearing his name and the ind,
ment Of the Hunter firm was held By
a. Eighth National Bank. Mr.. Field
he was aware of the fact and that
amount was $4,000. Property at A
49,, tic City valued at $25, 900, belonein
IN the firm was seized to-day. Up
this time the estimate of
o;oi amount of the paper issued bearing
saas firms Endorsement varies from 1885,
to $4O0, 900, about three ourths of W
az is supposed TO be Of fraudulent
"a acter. The liabilities foot up over 81
anS 900. 1t is estimated that the prope
A. owned by the Hunters are worth g.
80 600, but all Of them are heavily 4
- gagged. Mr.. Long has issued q card W
atad says that holders OF notes bearing
sriff name will have all such that are not
geries marked correct and these wi
honored.
1t was reported In Third street tc
that number Of merchants propos
dop help John Hunter by placing his proI
in trust for the benefit of 100 bus
orce men, each Of whom would contri
the S2,oOO or more toward fund fol-
have purpose OF meeting the liabilities o
sent hrm. II was said that the property {
vices be 30 managed that in the course
,arly year or two the loans could be r..
20 to John Wanamaker anticipated this i
ut Of ment to-day by writing letter to
the Field, the assignee Of the Arm.
first stating that he had implicit faith i
lter- integrity OF John Hunter he offers 10
scribe 1926, 900 as one of the syndics
: the pay of the indebtedness OF the firm.
line A Warrant was issued this afternoo
main James Hunters arrest on the char
, or forgery.
-ans- pm 90 ..
70 all dataot; - Lsa-a aiaFen zo'-Flnkel
o its tsrdeu ~. I ia, D9 ~ searching since
hrm OF James & John Hunter, but
out success, and the theory that h
left the country is generally bell
willie John Hunter, who was at his desk /,
FaQaipar NJ ka~nn In